The fund was formally announced at an event titled “Dakche Bangladesh” held in New York on September 26. Former Chief Adviser of the interim government Professor Muhammad Yunus attended the event as the chief guest, while Ashik Chowdhury, chairman of the Bangladesh Investment Development Authority (BIDA), was the special guest.
Economy
M Capital Announces $1 Billion Fund to Mobilize Expatriate Investment
Ahsan H. Mansur said the initiative will comprise three separate funds: the Financial Services Fund, Distressed Asset Management Fund, and Healthcare Impact Fund.
He said the funds would be managed in compliance with domestic and international laws. Independent advisers will oversee the funds to ensure transparency, while investments will be subject to a two-year lock-in period. BRAC Bank will serve as the trustee and custodian of the funds.
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Professor Muhammad Yunus urged expatriate Bangladeshis to contribute their expertise, technological knowledge and experience to the country’s productive sectors.
Ashik Chowdhury, meanwhile, emphasized the importance of encouraging foreign and expatriate entrepreneurs to visit Bangladesh and gain first-hand knowledge of the country’s business environment.
M Capital said it aims to engage Bangladeshi expatriates living in around 100 major cities worldwide in investment opportunities in Bangladesh. The company’s registered headquarters is located in Banani, Dhaka.